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Earnings Per Share
 3 Months Ended
Oct. 31, 2020
Earnings Per Share [Abstract]  
Earnings Per Share

Note 7—Earnings Per Share


Basic earnings per share is computed by dividing net income attributable to all classes of common stockholders of the Company by the weighted average number of shares of all classes of common stock outstanding during the applicable period. Diluted earnings per share is computed in the same manner as basic earnings per share, except that the number of shares is increased to include restricted stock still subject to risk of forfeiture, issuances to be made on the vesting of unvested DSUs and the exercise of potentially dilutive stock options using the treasury stock method, unless the effect of such increase is anti-dilutive.


The weighted-average number of shares used in the calculation of basic and diluted earnings per share attributable to the Company’s common stockholders consists of the following:


   Three Months Ended
October 31,		 
   2020   2019 
   (in thousands) 
Basic weighted-average number of shares   12,191    10,196 
Effect of dilutive securities:          
Stock options   292    - 
Non-vested restricted Class B common stock   11    - 
Deferred stock units   2    - 
Diluted weighted-average number of shares   12,496    10,196 

The following shares were excluded from the dilutive earnings per share computations because their inclusion would have been anti-dilutive:


   Three Months Ended
October 31,		 
   2020   2019 
   (in thousands) 
Stock options   917    1,231 
Non-vested restricted Class B common stock   34    154 
Deferred stock units   -    90 
Shares excluded from the calculation of diluted earnings per share   951    1,475 

For the three months ended October 31, 2019, the diluted earnings per share equals basic earnings per share because the Company incurred a net loss during that period and the impact of the assumed exercise of stock options and vesting of restricted stock would have been anti-dilutive.